Tesla may have more bad news on the horizon: Analyst

Channel: Fox Business
Published: 06/05/2019

Description
Wedbush Securities' Daniel Ives on concerns over the outlook for Tesla. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN ...



Transcript
Elon musk says tesla's: futuristic, pickup truck will outperform a porsche 911. Okay, that's what he's saying wedbush tesla alice dan ives joins us now. Dan. Welcome back to the show. Last time you are on you issued a code red for tesla stock. I said it was gon na go down a lot. Well, it's come back up to nearly $ 200 a share. What are you saying about tesla today? Look, i mean, i think, it's stil ...
at the glass half empty in terms of the view that think you've hit numbers this quarter and second, a profitability that continues to really be the issue for us and they're, worried for investors. So right now this still is the flashingyellow light, and since the name, it's not something you would recommend buying. At this point, no, i mean, in our opinion, i think, there's there's more bad news in the horizon, and this is one it was just yet a some sort of short-covering going on here. We continue to view this. The dark days ahead in tesla there's still some potential.

I think it numbers, but right now i think it's an everest bike, uphill battle for them, top of the building. Second, half that's interesting dan, because the last time you were on the show you said it was a kilimanjaro type climb. Back now you say it's an everest type climb back, in other words, thingshave gotten worse yeah, i mean my opinion. This continues to be a major challenge, because it's not just the competition, it's really about ultimate demand in the us and what they have faith in and that business model to hit profitability. The second half it continues to be a leadership position, but right now, if you look at just the pure math, the math does not lie and firming numbers, and that's why right now is it all hands on deck for them numbers this quarter got it dan ives. Thanks very much for being on the show again, we do appreciate it.


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